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Hindalco Industries

Discussion in 'Technical Analysis' started by kamat79, Mar 19, 2013.

  1. kamat79

    kamat79 New Member

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    Hi Friends,

    I have bought Hindalco Fut at 110, my mistake. Can anyone please provide view? It's going down. It's downtrend, but I think it should go in uptrend now - this is like 52 week low. I'm stuck.

    Kindly help.

    Keshav
     
    Last edited: Mar 19, 2013
    kamat79, Mar 19, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    What is your stop loss?
     
    shabbir, Mar 19, 2013
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  3. kamat79

    kamat79 New Member

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    It's a mistake, I was hoping it will go up. Now I'm planning to cut it at 92 (if goes below that). Sorry Shabbir sir, it's a lesson.
     
    kamat79, Mar 19, 2013
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  4. shabbir

    shabbir Administrator Staff Member

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    I thought you have shorted Hindalco

    And hoping to go up when you are short on a stock.

    Yes its a lesson but then what is your trade in this stock is not clear to me as of now.
     
    shabbir, Mar 19, 2013
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  5. kamat79

    kamat79 New Member

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    i'm sorry, i have bought it. it's not short. just little panic, don't know what to do. huge loss, sorry!
     
    kamat79, Mar 19, 2013
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  6. vishuhd1

    vishuhd1 Member

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    My suggestion would be to exit in this stock as Hindalco has broken all the major support levels and its trading at 91.3 today.. Metal sector as a whole is in a downtrend and better to avoid metal stock as of now..
     
    vishuhd1, Mar 20, 2013
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  7. verenmitter2001

    verenmitter2001 Member

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    Hi Shabbir
    How about shorting this stock at cmp with tgt of 71 anf stoploss of 102

    regards
    veren
     
    verenmitter2001, Mar 20, 2013
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  8. shabbir

    shabbir Administrator Staff Member

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    Yes it is good stock for shorting but the OP had shorted as I could understand but then I was not sure.
     
    shabbir, Mar 20, 2013
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  9. kamat79

    kamat79 New Member

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    Hi Shabbir,

    What is OP? Thanks.
     
    kamat79, Mar 21, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    Original Poster or means the person who started the discussion thread.
     
    shabbir, Mar 21, 2013
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